August 19, 2013 – MDT – The Usual Suspects

August 19, 2013 By Mad Hedge Fund Trader

While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.

IBB…the downside seems limited to 186.13. As long as this remains above 187.75, short term traders can buy this with a tight stop @ 187.70.

A close today above 189.90 would be needed to confirm a trad able low.

This has been the best of the best over the past 3 years. We’d love a chance to buy this again @ 164, however I doubt you’ll get the opportunity with any strength in the Indices.

XLK…as long as this remains above today’s low, it’s on solid footing.

XLV…put in a lower low early and is now attempting an ORH pattern. This is a buy against unchanged on the week (49.38)

XLU…same story with the Utilities. They are a buy against 37.50.

SSO…this can be traded from the long side with a stop @ today’s low of 81.40.

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It should not be assumed that the methods, techniques, or indicators presented in these pages will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these pages are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.